meanwhile...chances of chinese credit crunch?, page-32

This could be China’s “Bear Stearns moment,” strategists at Bank of America Corp said...

http://www.bloomberg.com/news/2014-03-07/chaori-solar-fails-to-make-interest-payments-on-bond-wsj-says.html

I remember very well when BS's subprime mortgage securities starting defaulting from mid-2007. At the time the experts told us that it was "isolated and contained" and that there was nothing to worry about. The collapse of BS was a prelude to the risk management meltdown of 2008 leading into the GFC.

History doesn't always repeat, but it sure does rhyme.